CORNWALL VOLUNTEER FIRE DEPARTMENT (EIN 223041895) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1951

Legal Domicile

Principal Officer

SEAN STEARNS

Phone

8024622990

Tax Period

2024-07-01 to 2025-06-30

CORNWALL VOLUNTEER FIRE DEPARTMENT, founded in 1951, is a micro nonprofit that reported $77K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $121K exceeded revenue, resulting in a 57% operating deficit.

Mission

FIRE PROTECTION AND EMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $73,600

Program Service Revenue $0

Investment Income $57

Other Revenue $3,600

TOTAL REVENUE $77,257

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $120,162

Other Expenses $120,945

TOTAL EXPENSES $120,945

Year-over-Year Comparison

	2024	2023	Change
Revenue	$77,257	$68,780	+0.1%
Expenses	$120,945	$127,652	-0.1%
Net Income	$-43,688	$-58,872	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BERNO	CHIEF	3.00	Officer	$0	$0	$0
RAPH WORRICK	1ST ASSISTANT CHIEF	3.00	Officer	$0	$0	$0
SEAN STEARNS	2ND ASSISTANT CHIEF	3.00	Officer	$0	$0	$0
MEGAN FRANKOVIC	TREASURER	3.00	Officer	$0	$0	$0
CHRIS DAYTON	SECRETARY	3.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$77,257	$120,945	$225,660	$-43,688
2024	$68,780	$127,652	$269,348	$-58,872
2023	$75,079	$125,634	$328,220	$-50,555
2022	$78,492	$122,728	$378,775	$-44,236
2021	$82,244	$103,649	$423,011	$-21,405
2020	$97,371	$76,811	$444,416	$20,560
2019	$290,837	$90,450	$423,856	$200,387
2018	$72,536	$104,098	$223,469	$-31,562

CORNWALL VOLUNTEER FIRE DEPARTMENT